Violation Tracker Individual Record
Company:
Student Loan Xpress, Inc.
Current Parent Company:
CIT
Penalty:
$112,825,000
Year:
2009
Date:
October 27, 2009
Offense Group:
consumer-protection-related offenses
Primary Offense:
consumer protection violation
Violation Description:
In order to resolve multistate litigation, Student Loan Xpress, Inc. agreed to provide $112.7 million in debt relief to students who paid for helicopter flight instruction they never received. It also agreed to pay the states $125,000 for legal costs.
Level of Government:
state
Action Type:
agency action
Agency:
Multistate Attorneys General Case
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
financial services
Link to Archived Court Document:
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
